Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Dutch (AEX) Market Analysis & Valuation

UpdatedSep 04, 2025
DataAggregated Company Financials
Companies99
  • 7D-3.0%
  • 3M-4.1%
  • 1Y-0.7%
  • YTD1.4%

Over the last 7 days, the market has dropped 3.0%, driven by losses in every sector, especially the Information Technology sector. Although the market performance has been flat over the past year. Earnings are forecast to grow by 8.3% annually.

Market Valuation and Performance

Has the Dutch Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 05 Sep 2025€989.6b€550.2b€67.1b16.6x14.7x1.8x
Sun, 03 Aug 2025€976.3b€544.4b€65.8b17.2x14.8x1.8x
Tue, 01 Jul 2025€1.0t€542.2b€62.0b18.7x16.7x1.9x
Thu, 29 May 2025€1.0t€544.2b€58.5b18.9x17.7x1.9x
Sat, 26 Apr 2025€957.9b€543.2b€57.9b17.2x16.5x1.8x
Mon, 24 Mar 2025€1.0t€567.5b€58.5b18.1x17.4x1.8x
Wed, 19 Feb 2025€1.1t€572.0b€57.7b17.9x18.7x1.9x
Fri, 17 Jan 2025€1.0t€566.5b€51.8b16.4x19.6x1.8x
Sun, 15 Dec 2024€1.0t€562.3b€51.5b17.2x19.5x1.8x
Tue, 12 Nov 2024€973.3b€560.6b€50.8b17.3x19.2x1.7x
Thu, 10 Oct 2024€1.1t€561.8b€52.7b18.1x20x1.9x
Sat, 07 Sep 2024€985.2b€566.7b€40.1b16.1x24.6x1.7x
Mon, 05 Aug 2024€981.5b€562.1b€38.8b15.7x25.3x1.7x
Wed, 03 Jul 2024€1.1t€561.7b€41.1b16.2x26.9x2x
Fri, 31 May 2024€1.1t€561.6b€44.5b17.8x24.5x1.9x
Sun, 28 Apr 2024€1.0t€564.7b€45.1b15.6x23.1x1.8x
Tue, 26 Mar 2024€1.0t€550.9b€45.9b16.4x22.5x1.9x
Thu, 22 Feb 2024€988.1b€566.3b€48.4b15.7x20.4x1.7x
Sat, 20 Jan 2024€910.2b€590.7b€60.2b15.8x15.1x1.5x
Mon, 18 Dec 2023€931.0b€595.1b€60.2b16.4x15.5x1.6x
Wed, 15 Nov 2023€870.0b€597.2b€59.4b15.9x14.6x1.5x
Fri, 13 Oct 2023€836.1b€593.0b€50.4b16x16.6x1.4x
Sun, 10 Sep 2023€885.3b€588.9b€49.2b17x18x1.5x
Tue, 08 Aug 2023€911.3b€573.8b€47.3b16.3x19.3x1.6x
Thu, 06 Jul 2023€922.8b€582.7b€52.1b16.5x17.7x1.6x
Sat, 03 Jun 2023€918.7b€585.4b€48.3b16.9x19x1.6x
Mon, 01 May 2023€867.4b€573.0b€49.0b17.4x17.7x1.5x
Wed, 29 Mar 2023€869.9b€565.4b€50.6b15.8x17.2x1.5x
Fri, 24 Feb 2023€897.6b€553.0b€48.1b16.3x18.7x1.6x
Sun, 22 Jan 2023€892.9b€540.9b€54.2b14.7x16.5x1.7x
Tue, 20 Dec 2022€829.0b€543.4b€54.3b14.2x15.3x1.5x
Thu, 17 Nov 2022€848.1b€545.1b€67.6b13.9x12.5x1.6x
Sat, 15 Oct 2022€721.8b€511.6b€80.8b12.3x8.9x1.4x
Mon, 12 Sep 2022€813.8b€513.8b€73.3b13.4x11.1x1.6x
Price to Earnings Ratio

11.1x


Total Market Cap: €813.8bTotal Earnings: €73.3bTotal Revenue: €513.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Dutch Market Price to Earnings3Y Average 18.3x202320242025
Current Market PE
  • Investors are pessimistic on the Dutch market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 14.7x which is lower than its 3-year average PE of 18.3x.
Past Earnings Growth
  • The earnings for Dutch listed companies have declined 2.9% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.3% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Dutch Market?

NL Market-2.97%
Utilities0%0
Consumer Discretionary-0.78%
Financials-1.19%
Materials-1.43%
Consumer Staples-1.99%
Healthcare-2.45%
Energy-3.27%
Telecom-4.00%
Real Estate-4.46%
Tech-5.26%
Industrials-5.80%
Sector PE
  • Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 39.0x.
    • Analysts are expecting annual earnings growth of 10.9%, which is lower than the prior year's growth of 23.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 34% over the next 5 years.
  • In contrast, the Telecom sector is expected to see its earnings decline by 2.6% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
HAL HAL Trust€142.0012.2%
+€1.4b		20.7%PE7.4xFinancials
INGA ING Groep€20.901.6%
+€854.1m		29.5%PB1.1xFinancials
ABN ABN AMRO Bank€25.373.3%
+€624.0m		64.7%PB0.8xFinancials
KPN Koninklijke KPN€4.162.4%
+€369.8m		11.1%PE20.7xTelecom
AD Koninklijke Ahold Delhaize€34.550.9%
+€271.8m		11.4%PE16.9xConsumer Staples
See more

Market Insights

Header cover image
🌊 The 2025 IPO Wave: Winners, Losers, and What Investors Should Watch
Richard Bowman avatar
Richard Bowman
|
|
The number of IPOs and the capital raised this year are on track to outpace the last three years combined. And the thing is, successful IPOs attract more IPOs. Some will be genuine gems, while others, not so much. That’s why this week, we’re digging into the IPO market, and more importantly, how you can improve your odds of spotting a winner.
Continue reading
📊 Leveraged Upside and Downside With Bitcoin Treasury Companies
Last Week

📊 Leveraged Upside and Downside With Bitcoin Treasury Companies

Latest News

PHIA
€23.78
Koninklijke Philips
7D
0.7%
1Y
-11.9%
INPST
€10.44
InPost
7D
-18.4%
1Y
-34.8%
DSFIR
€81.16
DSM-Firmenich
7D
-3.5%
1Y
-31.7%
HEIA
€67.10
Heineken
7D
-3.8%
1Y
-18.5%
KPN
€4.16
Koninklijke KPN
7D
2.4%
1Y
11.1%

Koninklijke KPN (AMS:KPN) Has A Pretty Healthy Balance Sheet

Aug 31
Koninklijke KPN (AMS:KPN) Has A Pretty Healthy Balance Sheet
HAL
€142.00
HAL Trust
7D
12.2%
1Y
20.7%
CVC
€15.85
CVC Capital Partners
7D
-9.5%
1Y
-15.9%

Fund Activations And Private Wealth Expansion Will Secure Predictable Fees

Despite a modest downward revision in the consensus price target to €19.77, analysts remain positive on CVC Capital Partners, citing strong exit momentum, expected growth from infrastructure fundraising, and enhanced exposure to European secondaries as key drivers of continued overweight ratings. Analyst Commentary Bullish analysts highlight improving exit momentum, indicating greater realized value from portfolio companies.
ASM
€408.30
ASM International
7D
-4.2%
1Y
-25.9%

The Price Is Right For ASM International NV (AMS:ASM)

Aug 29
The Price Is Right For ASM International NV (AMS:ASM)
JDEP
€31.34
JDE Peet's
7D
0.4%
1Y
48.1%

Expanding Premium Segments And Global Reach Will Unlock Value

The consensus price target for JDE Peet’s has increased as analysts factor in the EUR 31.85 per share cash offer from Keurig Dr Pepper, anticipated operational improvements, and strategic refocusing, driving the fair value up from €25.93 to €28.04. Analyst Commentary The acquisition of JDE Peet's by Keurig Dr Pepper led bullish analysts to align price targets with the EUR 31.85 per share cash offer, reflecting the agreed upon takeout price.
BESI
€107.15
BE Semiconductor Industries
7D
-10.5%
1Y
-0.09%

Is Now An Opportune Moment To Examine BE Semiconductor Industries N.V. (AMS:BESI)?

Aug 25
Is Now An Opportune Moment To Examine BE Semiconductor Industries N.V. (AMS:BESI)?
ADYEN
€1,377.80
Adyen
7D
-4.5%
1Y
8.6%

Here's What Analysts Are Forecasting For Adyen N.V. (AMS:ADYEN) After Its Interim Results

Aug 19
Here's What Analysts Are Forecasting For Adyen N.V. (AMS:ADYEN) After Its Interim Results
ABN
€25.37
ABN AMRO Bank
7D
3.3%
1Y
64.7%
INGA
€20.90
ING Groep
7D
1.6%
1Y
29.5%
User avatar

ING leads the pack when it comes to pivoting towards non-lending income

ING, of course, is a bank; and banks don't like falling interest rates, right? For the dominant stream of income is their core business model, i.e. borrowing short-term and lending long-term, reaping
AD
€34.55
Koninklijke Ahold Delhaize
7D
0.9%
1Y
11.4%
BNJ
€9.05
Banijay Group
7D
2.3%
1Y
2.8%
ASML
€647.60
ASML Holding
7D
-1.0%
1Y
-10.1%

Why Now Is The Time to Buy ASML

What Does ASML Do? ASML Holding N.V. is a Dutch company and the world’s only supplier of extreme ultraviolet (EUV) lithography machines —a critical technology used to produce the world’s most advanced computer chips.